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1 Schilling - Worgl
| Issuer | Marktgemeinde Wörgl (Gemeinde Wörgl) |
|---|---|
| Year | 1932-1933 |
| Type | Vouchers |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Lindert die Not, gibt Arbeit und Brot Nothilfe Wörgl Bestätigter Arbeitswert 1 SCHILLING (ein Schilling) Marktgemeinde Wörgl Armenpflege Als Notabgabe ist monatlich 1% in Marken zu entrichten Ohne Prägestempel ungültig NOTABGABE in KLEBEMARKEN September / Oktober / November / Dezember |
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| Protection type | Embossed stamp |
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| Comments |
The Wörgl Schilling notes are among the most discussed local currency experiments in twentieth-century monetary history. Issued by the Tyrolean market town of Wörgl under mayor Michael Unterguggenberger in the depths of the Depression, the notes were designed with a built-in demurrage charge — holders paid a small monthly stamp fee to keep them valid, which forced rapid circulation rather than hoarding. Unemployment in Wörgl dropped measurably during the experiment while surrounding towns stagnated.
The Austrian National Bank shut the scheme down in September 1933, citing its monopoly on currency issuance. The whole episode lasted just over thirteen months.